Elmet Group Co. (NASDAQ:ELMT) Stock Has Consensus Price Target of $28.00 According to Analysts

Key Points

• Analyst sentiment is moderately bullish: Six firms give Elmet a consensus “Moderate Buy” rating, with an average 12-month price target of $28 versus a reported share price of $21.
• Recent quarterly results beat estimates: Elmet reported EPS of $0.35, topping the $0.15 consensus, while revenue rose 55.6% year over year to $79.56 million.
• Canaccord raised its price target to $28 and reiterated a “Buy” rating; the article also cites a Department of War-backed expansion and a 2031 full-run-rate target as potential longer-term growth drivers.

Elmet Group Co. (NASDAQ:ELMT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $28.00.

A number of equities analysts have commented on ELMT shares. Cantor Fitzgerald raised their price objective on Elmet Group from $20.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, October 23rd. Weiss Ratings upgraded Elmet Group from a "sell (e)" rating to a "sell (e+)" rating in a research report on Friday, October 2nd. Needham & Company LLC upped their target price on Elmet Group from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, October 8th. Roth Capital reissued a "buy" rating and set a $26.00 target price (up from $21.00) on shares of Elmet Group in a report on Tuesday, September 15th. Finally, Canaccord Genuity Group raised their price target on Elmet Group from $26.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday.

Institutional Investors Weigh In On Elmet Group

A number of large investors have recently bought and sold shares of the company. Bangor Savings Bank acquired a new position in shares of Elmet Group in the 3rd quarter valued at approximately $48,741,000. Wellington Management Group LLP acquired a new stake in shares of Elmet Group during the 2nd quarter worth approximately $10,537,000. AWM Investment Company Inc. acquired a new stake in shares of Elmet Group during the 2nd quarter worth approximately $6,807,000. Roubaix Capital LLC acquired a new stake in shares of Elmet Group during the 3rd quarter worth approximately $6,015,000. Finally, Skylands Capital LLC increased its stake in Elmet Group by 22.9% in the third quarter. Skylands Capital LLC now owns 133,036 shares of the company's stock valued at $2,655,000 after acquiring an additional 24,819 shares during the last quarter.

Elmet Group Stock Performance

NASDAQ:ELMT opened at $21.00 on Thursday. Elmet Group has a 52 week low of $12.48 and a 52 week high of $25.46. The business's 50-day simple moving average is $20.22. The company has a market capitalization of $643.86 million and a price-to-earnings ratio of 51.22. The company has a current ratio of 5.91, a quick ratio of 1.60 and a debt-to-equity ratio of 0.12.

Elmet Group (NASDAQ:ELMT - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.20. The company had revenue of $79.56 million during the quarter. The company's revenue for the quarter was up 55.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 EPS. Sell-side analysts anticipate that Elmet Group will post 0.72 EPS for the current year.

Key Headlines Impacting Elmet Group

Investors following ELMT have been watching these headlines:

• Positive Sentiment: Canaccord Genuity raised its price target to $28 from $26 and reiterated a “buy” rating, implying about 33% upside from $21. Canaccord Genuity recommendations
• Positive Sentiment: Elmet outlined a 2031 full-run-rate target as a Department of War-backed expansion advances, pointing to potential longer-term growth. Expansion and run-rate outlook
• Neutral Sentiment: A short-interest update reported zero shares sold short and a zero-day short-interest ratio, suggesting little reported short positioning; the entry’s description of a “large increase” conflicts with those figures.

About Elmet Group

Elmet Group, Inc. is a special purpose acquisition company (SPAC) formed to pursue a business combination with another company. It does not currently have an operating business or sell products and services of its own. The company's stated purpose is to identify and combine with a business through a merger, acquisition, share exchange or similar transaction. Until such a transaction is completed, its activities are focused on evaluating potential opportunities. Information about a target business, operating markets and management following a business combination depends on any transaction Elmet Group may complete.

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